Shiloh
Editor, Senior Moderator
Source: https://www.amny.com/news/stringers...cores-devastating-covid-19-job-losses-in-nyc/
Massive inequality in New York’s COVID-19 job losses underscored in Stringer budget report
By Robert Pozarycki
Posted on November 30, 2020
Nearly one in four New Yorkers of color wound up losing their jobs due to the economic strife connected to the COVID-19 pandemic, according to a new report that City Comptroller Scott Stringer released on Monday.
Stringer’s “Popular Annual Financial Report” generally outlines the city’s spending and economic performance over a given fiscal year, but his report for the 2020 fiscal year (which ran between July 2019 and June 2020) paid particular attention to the city’s financial response to the pandemic.
New York City was economically devastated by the pandemic, as businesses closed down en masse back in March due to new capacity restrictions and other regulations designed to stop the spread of the highly contagious and deadly virus.
That led to significant job losses across the board; Stringer’s report indicated that the city’s unemployment rate, which had reached an all-time low of 3.4% in February, soared to 20.3% by June...
Massive inequality in New York’s COVID-19 job losses underscored in Stringer budget report
By Robert Pozarycki
Posted on November 30, 2020
Nearly one in four New Yorkers of color wound up losing their jobs due to the economic strife connected to the COVID-19 pandemic, according to a new report that City Comptroller Scott Stringer released on Monday.
Stringer’s “Popular Annual Financial Report” generally outlines the city’s spending and economic performance over a given fiscal year, but his report for the 2020 fiscal year (which ran between July 2019 and June 2020) paid particular attention to the city’s financial response to the pandemic.
New York City was economically devastated by the pandemic, as businesses closed down en masse back in March due to new capacity restrictions and other regulations designed to stop the spread of the highly contagious and deadly virus.
That led to significant job losses across the board; Stringer’s report indicated that the city’s unemployment rate, which had reached an all-time low of 3.4% in February, soared to 20.3% by June...